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Indianapolis Indiana DSCR Rental Loan

Address: Indianapolis, Indiana
Borrower Profile: First Time Borrower — Experienced Real Estate Investors
Purchase Price: $100,000
Appraised Value: $382,000
Loan Amount: $267,400
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.06

This first time borrower is refinancing a two-family home in Indianapolis Indiana with Asset Based Lending’s DSCR rental loan. This property was purchased for $100,000 and it was later appraised for $382,000. The rental market in Indianapolis makes up 46% of the housing market. Indianapolis is the third largest city in the Midwest after Chicago and Columbus and offers many career and leisure opportunities which is perfect for young professionals looking to live in an affordable city. The borrower has renters in place in both units and is collecting $3,216 in monthly rent. As a positive cash-flow property with a DSCR of 1.06 this is a passive income producing property and a great investment property for this borrower’s portfolio.